Federal Judge Denies Binance’s Request to Restrict SEC’s Language in Press Releases

A federal judge has rejected Binance’s request to limit the language used by the U.S. Securities and Exchange Commission (SEC) in press releases regarding Binance.US’ management of customer funds. Binance argued that the language could harm its position in the trial, but Judge Amy Berman Jackson dismissed these claims, stating that the court’s role is not to alter public statements made by either party. She also ruled that the SEC’s public relations efforts thus far are unlikely to significantly impact the proceedings. Binance’s lawyers had complained about the SEC’s “misleading extrajudicial statements” and expressed concerns about potential confusion and bias in the jury pool.

The judge has given Binance until September 21 to respond to the SEC’s allegations, with the SEC’s reply due on November 7. Binance, the world’s largest cryptocurrency exchange by trading volumes, is preparing to fight the SEC in court. The SEC recently sued Binance, along with CEO Changpeng “CZ” Zhao, for allegedly violating federal securities laws. The SEC’s actions against several prominent crypto companies aim to safeguard investors in an industry that it deems to be risky and largely non-compliant.

Overall, the judge’s ruling denies Binance’s request to limit the SEC’s language in press releases, indicating that the court does not see a need to intervene or edit the parties’ public statements at this stage of the case.